Market Runner: What Next for Charter Communications, Inc. Stock After Achieving 52-Week High?

Market Runner: What Next for Charter Communications, Inc. Stock After Achieving 52 Week High?

The stock of Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week high and has $302.56 target or 8.00% above today’s $280.15 share price. The 5 months bullish chart indicates low risk for the $73.30 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $302.56 price target is reached, the company will be worth $5.86B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.05 million shares traded hands. Charter Communications, Inc. (NASDAQ:CHTR) has risen 28.92% since April 26, 2016 and is uptrending. It has outperformed by 23.66% the S&P500.

Analysts await Charter Communications, Inc. (NASDAQ:CHTR) to report earnings on February, 2. They expect $1.06 earnings per share, up 187.60% or $2.27 from last year’s $-1.21 per share. CHTR’s profit will be $277.42 million for 66.05 P/E if the $1.06 EPS becomes a reality. After $0.69 actual earnings per share reported by Charter Communications, Inc. for the previous quarter, Wall Street now forecasts 53.62% EPS growth.

Charter Communications, Inc. (NASDAQ:CHTR) Ratings Coverage

Out of 20 analysts covering Charter Comm (NASDAQ:CHTR), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. $350 is the highest target while $204 is the lowest. The $271.71 average target is -3.01% below today’s ($280.15) stock price. Charter Comm has been the topic of 28 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, November 10 by Moffett Nathanson. As per Tuesday, August 2, the company rating was initiated by Bank of America. As per Tuesday, October 11, the company rating was downgraded by Moffett Nathanson. On Wednesday, August 10 the stock rating was maintained by Jefferies with “Hold”. Raymond James upgraded the shares of CHTR in a report on Wednesday, June 1 to “Strong Buy” rating. The company was maintained on Wednesday, August 10 by UBS. The firm earned “Buy” rating on Monday, June 20 by Wunderlich. The firm has “Overweight” rating by JP Morgan given on Thursday, February 25. The stock has “Buy” rating given by Pivotal Research on Monday, September 26. On Monday, May 2 the stock rating was maintained by Wunderlich with “Buy”.

According to Zacks Investment Research, “Charter Communications is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter Spectrum TV video entertainment programming, Charter Spectrum Internet access, and Charter Spectrum Voice. Spectrum Business similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter’s advertising sales and production services are sold under the Charter Media brand.”

Insitutional Activity: The institutional sentiment increased to 0.09 in Q2 2016. Its up 0.06, from 0.03 in 2016Q1. The ratio is positive, as 309 funds sold all Charter Communications, Inc. shares owned while 5 reduced positions. 8 funds bought stakes while 2 increased positions. They now own 160,570 shares or 99.87% less from 120.69 million shares in 2016Q1.
Texas Yale Capital, a Florida-based fund reported 10,630 shares. Levin Cap Strategies L P owns 2,962 shares or 0.01% of their US portfolio. The Manitoba – Canada-based Great West Life Assurance Can has invested 0.03% in Charter Communications, Inc. (NASDAQ:CHTR). Nebula Cap L P last reported 4.17% of its portfolio in the stock. Wellington Shields Cap Management Ltd Company last reported 0.1% of its portfolio in the stock. Eidelman Virant accumulated 904 shares or 0.13% of the stock. Kemnay Advisory Svcs Incorporated accumulated 6.56% or 36,997 shares. Covey Llc last reported 0.93% of its portfolio in the stock. Capwealth Advsr Ltd Llc holds 24 shares or 0% of its portfolio. Moreover, Selkirk Mgmt Lc has 6.9% invested in Charter Communications, Inc. (NASDAQ:CHTR) for 50,000 shares. Burt Wealth Advsrs holds 0.09% or 355 shares in its portfolio. Burney Com accumulated 0.04% or 2,361 shares. Private Ocean Lc has 0% invested in the company for 7 shares. Tradewinds Cap Mngmt Limited Liability Company owns 90 shares or 0.02% of their US portfolio. Hanson & Doremus Mngmt, a Vermont-based fund reported 1,091 shares.

Insider Transactions: Since August 11, 2016, the stock had 1 insider buy, and 4 insider sales for $13.97 million net activity. $774,454 worth of Charter Communications, Inc. (NASDAQ:CHTR) was sold by Jacobson Craig A. On Thursday, August 11 Dykhouse Richard R sold $2.15M worth of the stock or 8,380 shares. Bickham John sold $9.46 million worth of stock. 1,000 shares were bought by Ramos Mauricio, worth $255,000. Hargis Jonathan also sold $1.83 million worth of Charter Communications, Inc. (NASDAQ:CHTR) shares.

More news for Charter Communications, Inc. (NASDAQ:CHTR) were recently published by: Wsj.com, which released: “Charter Communications’ Revenue Rises 7.4%” on November 03, 2016. Zacks.com‘s article titled: “Charter Communications: Prospects Bright, Competition Rife” and published on November 25, 2016 is yet another important article.

CHTR Company Profile

Charter Communications, Inc. (Charter), incorporated on July 22, 1999, is a well-known provider of cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. The Firm operates through broadband services segment. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services. The Company’s infrastructure consists of a hybrid of fiber and coaxial cable plant with approximately 12.8 million estimated passings, with over 98% at approximately 550 megahertz (MHz), over 99% of plant miles two-way active and approximately 100% of plant all-digital. The Firm sells its video, Internet and voice services primarily on a subscription basis, often in a bundle of two or more services. It offers Charter Spectrum brand in its all-digital markets. Digital video enables its clients to access advanced video services, such as high definition (HD) television, video on demand programming, an interactive program guide and digital video recorder (DVR) service. Through Spectrum Business, it provides tailored broadband communications solutions to business and carrier organizations, such as video entertainment services, Internet access, business telephone services, data networking and fiber connectivity to cellular towers and office buildings. The Company’s advertising sales division, Spectrum Reach, provides local, regional and national businesses with a focus on advertising in individual markets on cable television networks. Through its hybrid fiber and coaxial cable network, the Company offers its clients traditional cable video services, as well as advanced video services (such as video on demand, HD television, and DVR service), Internet services and voice services. The Company’s voice services are provided using voice over Internet protocol (VoIP) technology, to transmit digital voice signals over the Company’s systems.

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